Former Goldman Trader is Found Liable in Mortgage Deal

[erpowers]

Source: New York Times

Fabrice Tourre, the former Goldman Sachs trader at the center of a toxic mortgage deal sold to investors on the eve of the financial crisis, was found liable on Thursday for civil securities fraud.

Five years after the crisis, he is the only employee of a big American bank to lose a courtroom battle to Wall Street’s top regulator, the Securities and Exchange Commission. The S.E.C. took only a handful of employees to court over the crisis, but most cases were settled.

Read more: http://dealbook.nytimes.com/2013/08/01/former-goldman-trader-is-found-liable-in-mortgage-deal/?_r=0

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It came across the wire about ten minutes.

[Turbineguy]

1. He'll probably

have to buy the first three people to lose their homes, a taco.

[johnfunk]

2. Look on the bright side…

… it'll surely be a Taco Grande with all the fixin's and a side salad!

[AndyA]

3. They pay for their own drink, though.

Splurging on a meal is one thing, but those big sodas can get expensive!

[Marie Marie]

4. Unfortunate choice for a meal though seeing as they

don't even have a pot to crap in thanks to these crooks.